Boost revenue by enhancing your ERP

To take full advantage of new revenue opportunities in 2018, companies must consider the benefits of a mobile enterprise resource planning (ERP) system. It’s true that a tough operating environment has meant local companies are being squeezed to find more innovative ways of creating revenue, but it’s also true that significant opportunities are there for those who know where to find them. In fact, a great deal has been said about the revenue-generating opportunities that ERP in the cloud will bring to local companies in 2018. Already, 77% of companies believe ERP is essential to their business, according to the Mobile Corporation in South Africa 2018 study.

It’s not difficult to see why – not only does ERP hold a massive amount of data, but it also maintains the integrity of the data it produces, providing companies with a “single truth” and empowering them to make well-informed decisions. And, based on this powerful proposition, the importance of ERP is only going to grow.

Leveraging revenue opportunities

This year alone, $1,140-million in new revenue opportunities will be created by technology like ERP in cloud and flash storage cloud-based mobile applications, according to Frost & Sullivan. The market research company predicts that one of the most effective ways to leverage growth opportunities in South Africa’s ICT market will be to migrate ERP software from on-premise to cloud storage in order to benefit from increased ERP performance, as well as other business benefits such as decreased operating costs. But in truth, the combination of cloud and ERP is only a part of the story.

A new era in ERP

Though data from the ERP is recognised as key to decision making, not enough emphasis has been placed on the importance of ERP mobility. In fact, according to a World Wide Worx survey, which was based on interviews with 400 IT decision-makers at large enterprises in South Africa, just 31,5% of companies use advanced mobile software like ERP extensively. And of those that use a mobile app, just 59,2% say the app offers full functionality of the traditional system.

However, local companies are starting to look to mobile solutions to help make them more agile and efficient. Specifically, 38% of the respondents to the survey indicated that they would like mobile software to help them make quicker decisions. Another 33% would like it to help them track employee activity.

Mobility key to agility

It’s obvious that in order to truly gain a competitive edge, companies need to be able harness the power of the ERP to enhance business performance, but they also need to be able to make these decisions related to improved processes and procedures more quickly. Essentially, they need their ERP system to be mobile. In fact, ERP applications with enhanced big data and mobile ERP capabilities give companies complete control over the planning and management of all facets of their business. Because the system enables users to search and retrieve up-to-date information as and when they need it, they’re not only able to make better decisions, but they’re also able to increase their productivity. Basically, ERP apps can help companies access their business information as easily as if they were sitting at their desk.

The revenue opportunities which arise from this are endless. In much the same way as the combination of cloud and ERP can create new revenue streams, so does the combination of ERP and mobility – only the opportunity is taken one step further. It’s a simply a matter of ensuring the system and application you implement has the capabilities you need. There’s no doubt the second half of this year still holds significant prospects for local companies. But they must leverage the full potential of mobility to fully take hold of new opportunities.